Insurance & Investments
Simple. Fast. Easy.

Dividend scale interest rate of 6.0% has been extended until June 30, 2024

Empire Life is pleased to announce that the dividend scale, including the interest rate of 6.0% for our PAR products, is being maintained from July 1, 2023 to June 30, 2024, as approved by our Board of Directors earlier this year.

In addition to maintaining our dividend scale interest rate of 6%, we are pleased to share the following:

• There are no changes to the other factors used to calculate the dividend scale.
• The interest rate for the Cash Accumulation dividend option (Dividends on Deposit) remains unchanged at 4.0% for all participating whole life policies.
• For policies with a variable policy loan interest rate, it remains unchanged at 6.75%. This applies to new and existing policy loans.¹

For more details related to this announcement, please review the Information Circular.

Did you know that Empire Life has one of the lowest policy loan interest rates at 6.75%?

In addition, Empire Life's policy loan interest rate is currently only 5bps higher than the Bank of Canada's prime rate.²

Help your clients access money³ when they need it, for any reason, including:

• Purchasing a new car 
• Down payment on a house
• Post-secondary education for children

To learn more about our participating products, please download our Product Guide.

Why Empire Life for PAR? 

Strong PAR account performance:

7.37% average return⁴ over the last 30 years

Two products to help meet your client's needs:

Optimax Wealth and EstateMax

Four guaranteed payment options to choose from:

8-Pay, 10-Pay, 20-Pay and Life Pay

For more information on Empire Life participating whole life insurance products, please visit our website.

¹ The policy loan rates on some older blocks of policies have a fixed policy loan rate, therefore, refer to the policy contract to better understand the applicable policy loan rate available.

² Bank of Canada Prime Rate: 6.70% as of May 12, 2023

³ In the event the policy loan exceeds the policy adjusted cost base, taxation may apply.

⁴ See Empire Life Quarterly Participating Account Summary Q4 2022 pg. 6.

FOR ADVISOR USE ONLY. NOT FOR DISTRIBUTION TO THE PUBLIC.

The information in this document is for general information purposes only and is subject to change without prior notice. Empire Life assumes no responsibility for any reliance made on or any inaccuracy in the information contained in this document.

Policies are issued by The Empire Life Insurance Company.